Business

We are set to export fuel -Dangote

Published

7 years ago

November 4, 2019

Dangote Group has said it plans to export petroleum products from its refinery to Europe, South America, West Africa and Central Africa.

The company stated this recently during a visit by a delegation led by the Timipre Silva, minister of state for petroleum resources, to the refinery site in Lagos.

Devakumar Edwin, the executive director, strategy, capital projects and portfolio development, Dangote Group, said products from the refinery, with a capacity to process 650,000 barrels per day, could be marketed anywhere in the world.

He said, “It is one of our targets to take diesel to Europe. Our equipment is already being designed to do this. We can take surplus petrol to South America, apart from West African countries and Central African countries. That is why decided to go for Euro V.

“The refinery can handle all the Nigerian crude grades and all the African crude grades, as well as some of the Middle East grades and the US light oil.”

According to him, the refinery can meet 100 per cent of the Nigerian requirements of all the liquid products and will have surplus to export.

The minister, after the tour of the project, said, “This is one of the impressive projects, if not the most impressive project, we have seen done by a Nigerian. It is a very encouraging development, and for us as government, we have also resolved to support this project fully.

“In terms of support, it will be in the areas of feedstock and off-take. Government will guarantee some of these things. But all these will come out of discussions with the President of Dangote Group. Once they put their needs on the table, we will look at them and see how to narrow the gap.”

Aliko Dangote,the president, Dangote Group, said, “We believe in Nigeria, and if we don’t do it by ourselves, nobody will come down here and do it for us. Nigeria is actually supposed to feed the entire West and Central Africa and that is what we are trying to do. That is why went for this massive capacity.”